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TRAILS BY CREDIT RIVER!

My Adventure Continues!!!

During these 60+ days of lockdown imposed on us by governments due to Covid/19, I have been encouraged to discover various walking trails, along the protected area of the Credit River.

This week I extended my continuous walk along the Credit River North from Eglinton Ave to Britannia.

This stretch of the River contains the "Village of Streetsville”. From a historical point of view, it is considered the most interesting part of the City of Mississauga. Many historical sites and landmarks are worth noting.

Approaching the village, the first landmark is “The Barber’s Woollen Mill” built by the Barber Brothers. A fire in 1861 completely destroyed the Woollen Mill.
Years later the Mill was upgraded to Hydroelectricity power, one of the early industrial applications of electricity in Canada, being the main employer of region. After many successive owners, changes in technology and changes in product, the mill remains a viable industry in the south Ontario region. https://web.archive.org/web

The Mill is presently owned by “Ardent Mills (Streetsville Mill)” The Mill makes many different blends of flour and offers the ideal flours for all traditional bakery and cooking needs. https://www.ardentmills.ca/

The Village Streetsville founded in 1850 is a vibrant town maintaining its characteristics of a small town, conserving historical buildings, showcasing a unique Village Square, galleries, restaurants, boutiques, salons, pubs and various recreational facilities for all the community and enhances a spirit of belonging are all notable stops along this stretch of the river.

Continuing towards Britannia along the Credit, I found Streetsville Memorial Park and Streetsville Public cemetery which dates back to 1882.

Later, I instantly found myself in a Naturalization Zone where the land is kept in its natural state enhancing the corridors and habitats of wildlife and regeneration, trees and ecological vegetation.

I look forward to travelling the river north to the Niagara Escarpment which will take me near Orangeville and Caledon East and continuing to travel south to Port Credit where the river drains into Lake Ontario.

April By The Numbers *RESENDING*

Toronto Regional Real Estate Board (TRREB) President Michael Collins released the April 2020 Market Watch for the Greater Toronto Area (GTA) this week. As expected, the emergency measures introduced as a result of COVID-19 have continued to have a significant impact on the number of real estate transactions taking place. Looking at all home types across the entire GTA, TRREB reported that April 2020 sales were down by -67% compared to April 2019.

The drop in sales was paralleled by a -64% drop in new listings, which helped to maintain a supply/demand balance keeping the average selling prices across the GTA relatively stable. According to the report the average selling price rose 0.1% compared to last year. Also noted in the report were the changes in the MLS® Home Price Index, a pricing tool that considers several statistical layers when calculating prices. The MLS® Home Price Index "was up year-over-year by a greater rate than the average selling price suggest[ing] that the share of higherend deals completed in April 2020 versus April 2019 was down."* The "higher-end" deals would otherwise drive the average price upward, and fewer of these transactions would have less impact on the average price.

Once again these numbers represent all home types across the entire GTA. It is helpful to consider specific home types in specific communities to see if the general trends are consistent with what's happening in yourcommunity.

Looking specifically at detached home sales, for example, Oakville sales were down -72%, Mississauga was down -70% and Brampton sales were down -74% compared to April 2019. However the average price of detached homes in all three cities had modest gains of 5%, 4% and 4.8% respectively.

The west Toronto municipality W08 (Princess-Rosethorn/Islington City Center) experienced a drop of -71% in detached home sales compared to last year with an averageprice drop of -1.8%

And W09 (Martingrove-Richview/Humber Heights) detached home sales were down -76% with only 6 sales in April (compared to 25 in April of last year). Average prices were relatively flat, dropping -1.2% based on these 6 transactions.

Toronto's condominium market also experienced substantial declines with sales in C01 (University/Downtown) down -72% and sales in W06 (Longbranch/Mimico) down -74%. There was additional price pressure on these markets with average price drops of -2.2% and -2% respectively.

While we have seen a sharp drop in transactions throughout April, The Toronto Regional Real Estate Board (TRREB) has predicted that recovery in our industry will begin in the summer and accelerate through the fall as social distancing measures are substantially relaxed and a large number of people return to work from furlough. Home buyers are expected to take advantage of very low borrowing costs that will remain in place to spur economic recovery.

While it is difficult to predict exactly how things will pan out in the coming months, this may be good news for those that are planning to sell their home this year.

March Market Report

March Madness

March Market Report - A Tale of Two Halves

Toronto Regional Real Estate Board (TRREB) President Michael Collins released March 2020 Real Estate statistics for the Greater Toronto Area (GTA) earlier today. As expected, the emergency measures introduced as a result of COVID-19 had a significant impact on sales midway through March.

Looking at all home types it was noted “that there was a clear break in market activitybetween the pre-COVID-19 and post-COVID-19 periods”. While the total sales transactions in March 2020 were up 12.3% compared to last March, the second half of the month was down -15.9%. The report highlights that “the overall March sales... [were] clearly driven by the first two weeks of the month”.

Detached home sales across the GTA reflect a range of growth. Oakville sales were up 9%, Mississauga sales were up 4.6% and Brampton sales were flat with a modest 1.3% growth compared to March 2019. Unfortunately these sales numbers are not broken down by pre-COVID and post-COVID periods. However based on the overall numbers released by TRREB we may conclude that any sales growth is due to a very strong first half of March.

W08 (Princess-Rosethorn/Islington City Center) experienced sharp growth in sales with a 31% risecompared to last year. Additionally the average price of a detached home in W08 was up 28.5%.

W09 (Martingrove-Richview/Humber Heights) sales were up 24% compared to last year with a more modest 7.9% average price increase. Again, we may conclude that W08 & W09 statistics are largely based on activity that occurred in the first have of the month.

Toronto’s condominium market was off to a strong start this March with sales in C01 (University/Waterfront) up 6.5% and sales in W06 (Longbranch/Mimico) up 31%. However activity in the condo market may have experienced even more disruptions than the detached home market midway through the month with some condominiums cutting off visitor access in an effort to limit the spread of COVID-19.

Recent news reports suggest that Ontario residents may be required to continue staying at home and physically distancing themselves for several more weeks. The real estate industry, declared an essential service by the Ontario government, has been making adjustments to adapt to this new environment. While activity has slowed in the COVID-19 world, there are still transactions taking place. But in the words of TRREB president Michael Collins “it is NOT business as usual.” Open houses, in-person showings and face-to-face contact continue to be strongly discouraged.

As your Realtor® it is my responsibility to satisfy an ethical duty to you, while protecting my own safety as well as the safety of my colleagues, clients, and the general public.

Fortunately new technologies have made it possible to balance my duties with everyone’s safety in today’s COVID-19 environment.

“Virtual” contact through Facetime®, Zoom®, Social Media and Virtual Tours are just a few ways to view or show a property from the comfort of your own home. And wire transfers, e-signatures and virtual meetings provide ways to fulfill additional obligations.

Short Supply + Strong Demand = Rising Prices

SHORT SUPPLY + STRONG DEMAND = RISING PRICE

Toronto Real Estate Board (TREB) Releases Market Year In Review & Outlook Report 2020. Outlining Experts Consensus and Addressing the Home Ownership Demand that is expected to Remain Strong Throughout the GTA in the coming years.

2020 is well underway and the January Market Watch report has arrived. Highlights of the January report indicate that Toronto’s Real Estate market continues to grow. “TRREB President Michael Collins announced that Greater Toronto Area REALTORS® reported 4,581 home sales through TRREB’s MLS® System in January 2020 – up by 15.4 per cent compared to January 2019.”

Furthermore a constrained supply of homes has continued to drive up prices. “The MLS® HPI Composite Benchmark price was up by 8.7 per cent compared to January 2019 – the highest annual rate of growth for the Benchmark since October 2017.” And while the condominium market has been a driving force behind this growth, Collins notes that “all home types experienced price growth above seven per cent when considering the TRREB market area as a whole.”

Locally W09 sales of detached homes were flat year over year (0%) in part due to a low number of new listings (14). The short supply coupled with strong demand did contribute to a rise in the benchmark price of 1-story detached homes (+9.14%) and 2-story detached homes (+9.07%) across the W09 communities.

W08 experienced sharp growth in sales (+17.6%) on relatively low volume (20) compared to last January. Similar to W09 the sharp decline in new listings compared to last year coupled with strong demand contributed to notable increases in the benchmark prices including a +10.46% price jump on 2-story detached homes and +4.97% price jump on 1-story detached homes.

According to Collins. “It is clear that many buyers who were on the sidelines due to the OSFI stress test are moving back into the market, driving very strong year-over-year sales growth in the detached segment.”

South Etobicoke’s Condominium market saw some of the GTA’s sharpest benchmark price increases in areas like Mimico where benchmark prices jumped +14.95% and Long Branch where benchmark prices rose +12.72%. These increases are due in part to a sharp drop in active listings compared to last year (-34.2%) combined with a strong demand for condominiums in these communities.

THE PRICE IS RIGHT?

How to Price Your Home for a Successful Sale

There are a wide range of tools a Realtor® may use to market and sell your home. But in the words of 40-year veteran realtor Elizabeth Weintraub (thebalance.com) “the single most important factor to consider when you're selling a house is that you've priced it correctly.”

So what does it mean to price it “correctly”? It may mean different things to different people. But the common goal is to get the highest and best offer for your home – so one must price accordingly. And whatever that offer is, you want to make sure it meets or exceeds your home’s truemarket value.

The first step, therefore, should be to accurately determine what the marketvalue is. Weintraub adds that “pricing homes is part art and part science. It involves comparing similar properties, making adjustments for the differences among them, tracking market movements, and taking stock of present inventory—all in an attempt to come up with a range of value, an educated opinion.”

This means more than simply looking at recent sales in the neighborhood and coming up with a similar price. Experience, research and statistical analysis all play key roles in coming up with a good “range of value”.

Statistical analysis, for example, can help fine-tune the value range and the Toronto Real Estate Board (TREB) monthly report is a great statistical resource. The report provides a wealth of information, including benchmark pricing statistics that highlight prices by the month, year, home-type and community they sold in (see my Home Price Index (HPI) newsletter for more info on this). Let’s say, for example, the benchmark price for 2-storey homes in the Princess-Rosethorn community has increased 5% over the last 6 months. With this information any comparable property that sold 6 months ago should be price-adjusted to reflect this increase.

Additionally, experience (and success) in establishing home values helps us estimate other value adjustments. When comparing a 2500 square foot house to a 3000 square foot house – what is the value adjustment? What about a pool verses no pool? The more we do to account for these adjustments, the better the results will be.

Once a value range is determined, the next step is to establish a selling price. This is where things can get tricky. The emotional attachment sellers have to their homes can impact the perceived value. After all, as Angela Colley of realtor.com remarks, “it's your home, crammed full of memories, hopes, and dreams - and all that stuff can cloud your thinking and lead you toward the wrong price.”

Despite what the research may show.

And coming up with the “wrong price” has consequences. Colley continues “shoot too high, and your home could languish on the market for months and maybe not sell at all. Price it too low and you could bilk yourself out of a whole lot of dough.”

Many experienced agents will agree that pricing your home higher than market value may have serious consequences. According to Weintraub “you don't want to overprice the house because you're going to lose the freshness of the home's appeal after the first two to three weeks of showings. Demand and interest wane after 21 days or so.” She warns that “uninformed sellers often choose the listing agent who suggests the highest list price, which is the absolute worst mistake a seller can make.” There is no shortage of sellers who, unfortunately, have terminated or expired their listing after months on the market due to overpricing. Once you’ve gone too high, recovering from this can be challenging.

Many will argue that the best approach is to just price it low– and the market will determine its value. Set up an offer day – wait for all the offers to come pouring in, and pit the buyers against one another to squeeze out the highest price – a bidding war. However, according to David Fleming of torontorealtyblog.com there is the possibility of “pricing too, too low and it’s completely backfired on the sellers that should have never entered the fray in the first place….many buyers out there in today’s market don’t want to play games…”.

Additionally, low-low pricing attracts a lot of bargain-hunters and many of the bids (if not all of them) will come in below market value – even if they’re above the asking price. A seller may take the highest of these bids not knowing it’s still below the home’s value range.

Low-low pricing does provide a great marketing opportunity for savvy agents though, so don’t be surprised if they push you toward this strategy. After a successful sale they may advertise that they sold your home “Over Asking” in an effort to brand themselves as agents that will get you more for your home. But in many cases the properties were priced well below market value to begin with.

So what is the right move here?

Pricing your home at or just below its market value is an attractive option. Once you establish this price you may still need to make minor adjustments based on market conditions. It’s important to know what similar homes are selling for in the area. It’s also helpful to consider the buyer experience when fine tuning the selling price. Let’s say, for example, you come up with a price of $1.2 million – this is the established market value. Consider that buyers searching online have set parameters that they are working within – and if the top of their range is $1,199,999 – they won’t see your property at $1.2 million – it will be as if it doesn’t exist. So a small adjustment to grab their attention – say a drop to $1,195,000 – can suddenly draw a lot more attention – and a lot more buyers. And if comparable homes in the community are priced higher than yours – this makes your property even more attractive to the buyers out there thus increasing the chances of a multiple offer situation for your home.

But before agreeing on a price it’s critical to come up with the value range first in order to know if the offers you receive are in line with what the value is. Make sure you see a Comparative Market Analysis (CMA) so that you can see the research and the science behind pricing your home.

Thinking selling in the upcoming Spring market? Start planning now!
Contact me to today to see a CMA of your home.

Toronto Real Estate Board President Michael Collins has released this month’s Market Report highlighting November 2019 housing statistics for the Greater Toronto Area (GTA).

The highlights of the report indicate a 14.2% increase in sales [volume] across all home types, year-over-year. Further the report notes a substantial drop in active listings (–27,2%). Fewer active listing contrasted with an increasing demand for homes has pushed prices upward. According to the report “the average selling price increased by 7.1% year-over-year.

While the highlights of the report indicate that sales were up year-over-year “across all major market segments”, a closer look at the various communities and home-types throughout the GTA tell a more detailed story.

For example November sales of detached homes in Mississauga jumped 20.1% year-over-year, with the average price of these homes dropping approximately (-1%). Similarly sales of detached homes in Oakville rose a whopping 42% year-over year while average prices for these homes dropped (-2.7%)

Looking at condominium units in downtown Toronto (C01) we also see a drop in sales of -(8.7%) with prices rising 8.2%

What do all of these numbers mean? And how do they help us understand the Market Watch report?

One clear takeaway from these numbers is that volume and price growth are not consistent across all areas, and all home types. The numbers further suggest that buyers of detached homes are increasingly moving to areas outside the city, where prices have remained somewhat stable. Michael Collins shows some support for this observation noting that "many buyers may have likely adjusted their preferences, changing the type and/or location of home they ultimately chose to purchase."

While some of Toronto’s popular suburban communities, like W08 & W09, are seeing prices rise, they’re not seeing an increase in new buyers. In contrast to the highlights of the report communities in these municipalities are seeing a significant drop in sales volume of detached homes.

An in-depth analysis of this and past reports further suggest that the GTA real estate market is increasingly varied depending on where you live, and what type of home you live in. A better understanding of this variation may be helpful in deciding where to live, and what type of home to invest in.

Interested in learning more about the real estate market in your community? Feel free to contact me with your questions anytime.

TORONTO EMERGES THE SECOND MOST OVERVALUED HOUSING MARKET IN THE WORLD SPOTLIGHT-CREA NEWS

Toronto is now the world's second most overvalued property market: UBS

Toronto has emerged as the world’s second most overvalued housing market on the back of low rates and supply shortages, according to UBS AG’s annual global real estate bubble index. Vancouver was sixth in the Swiss bank’s 2019 index. Financial Post reports!

OREA and our Board of Directors refuse to stand idly by while a small number of bad actors take advantage of consumers and besmirch the reputation of tens of thousands of hard-working real estate professionals like you.

Market Watch: June 2019

MARKET WATCH REPORT AND MARKET WATCH BY THE NUMBERS INFOGRAPH

From June 2018 to June 2019 there has been a 10.4% increase in sales. June 2019's sales added up to 8,860 while active listings were down by 5.7% and active listings were relatively the same as last year.

“As I start my term as President of the Toronto Real Estate Board, I am proud to say that the Greater Toronto Area continues to grow, in terms of employment, population and overall diversity. As people are attracted to our region from all around the world, they obviously need a place to live. Over the next year, as demand for ownership and rental housing continues to grow, my hope is that we will see more movement from policy makers on two fronts: alleviating the constrained supply of housing and providing more flexibility around demand-side policies, including the OSFI two percentage point mortgage stress test and allowable amortization periods on insured mortgages,” said Mr. Collins.

$832,703 was the average sale price of June 2019 which was up by 3% compared to last year's average of $808,066.

​Meet two Royal LePage Real Estate Realtors who refuse to slow down! Both over 90 years young!

Daniel Gargarella with Royal LePage Elite Realty 95 years young in Toronto, Ontario!
Harry Backlin with Royal LePage Prince George, Vancouver. 90 Years young!
Both refuse to slow down! Real Estate is their passion!
Daniel Gargarella featured on Real Estate Magazine (REM) May Issue.https://www.remonline.com/at-95-daniel-gargarella-is-still-selling/
Celebrating his 95th birthday and 60 years as a Realtor – First as a salesperson in the Toronto area and 55 years as a Broker of Record “Daniel Gargarella Real Estate Ltd.”
He was recognized at Realtor Quest in Toronto on May 28th, 2019, as the longest standing active member of the Toronto Real Estate Board (TREB).
Harry Backlin, with Royal LePage Prince George Realty at 90 says “Here I am today: I’m in good health, my cell phone is available seven days a week, I love what I’m doing and I will not stop promoting Prince George because everything you could ever want is here in town. Before joining Royal LePage Network, he worked for Century 21 Coldwell Banker.

95 Years Young, Mr. Gargarella’s Career in Real Estate

May 3, 2019

Our Agent, Daniel Gargarella has a long and successful career in real estate extending over his 95 years and we are so proud to have him as one of our veteran agents.

This month, Mr. Gargarella has been featured in REM Magazine, highlighting his extensive career in selling & buying in real estate as well as being a member of the board of directors. He has served in many capacities in the Toronto Real Estate Board, such as board of directors, arbitration, professional standards committee, & mls. In addition, he was the organizer of the 25 years dinner year after year.

At 95, Mr. Gargarella is still an full time and active agent at our Brokerage. To learn more about his career please check out the article linked below!

TO BUY OR NOT TO BUY? THAT IS THE QUESTION!

Vince Tersigni

Home buyers chasing the market, sitting on the fence or waiting for the market to crash in 2019! It’s a losing proposition! l, say think again.

Here’s a few facts… New home construction has almost come to a halt. The existing inventory has been sold out, fewer units are about to come on stream this year, 2019!

Municipalities, Regions, Provincial and Federal Governments continue with their thirst for money. There is no sign to relax regulations any time soon,exiting exuberant levies, interference with free market with new regulations such as:Stress Test,non residents tax and various other fees,just to name a few.

This is putting pressure on the Re-sale Market, fewer and fewer homes will be available for sale. As a result the prices will remain stable or will have a moderate increase.

If you are in the market, considering buying a home for your family do not procrastinate! Real Estate! Royal LePage Elite Realty...OF COURSE!!!

Linda Cordiano – Top Number of Ends for The Month

The most satisfying aspect of a career in Real Estate is matching client and property in unique ways. As a resident of Toronto, Mississauga and now Oakville , I has been servicing the GTA for many years. Throughout these years, I have brought high-energy, tenacity and unsurpassed professionalism to every real estate transaction. I take pride in guiding my clients through the intricacies of real estate purchases and sales. I offer timely and insightful advice on current market activity and provide constant communication to all my clients. Listing or buying with me will provide you with access to my vast network of attorneys, mortgage brokers, architects and designers, home stagers, renovators, and building inspectors to assist with all stages of the real estate process. I also employ the services of a dedicated marketing team whom assist me with every transaction. I look forward to working with you...Call me today.

Kealy E. Wharram - Top Seller For The Month

Buying or selling a home is a big decision - you need an experienced professional to guide you through the process. When you work with me, you can count on personal, attentive, patient service, excellent knowledge of the area, great negotiation skills and expert selling strategies.

Kealy E. Wharram - Top Lister For The Month

Good Wishes For 2019

As approach the new year, I’d like to express our gratitude and appreciation to all our sales associates and supporting staff.The Success Of Royal LePage Elite Realty, year after year is because of you . We Thank You.

Let’s start the new year believing there’s a winner in You.You are created to be successful,You have a Greatness in You. Let’s not dwell on the past,no matter what we have or what we have failed to do, the best days are in front of us.Have a wonderful year.

Make the year 2019 the best year ever!!!

REAL ESTATE AGENTS VALUE NATIONAL BRAND !

REAL ESTATE AGENTS VALUE NATIONAL BRAND !

TOP REAL ESTATE AGENTS VALUE NATIONAL BRAND’S BROKERAGE FIRM FOR THEIR SUCCESS.

WHILE LOW PRODUCING AGENTS ARE ATTRACTED BY LOW COST, AND LOW FEE BROKERAGE, USUALLY THESE INCENTIVES ARE DETRIMENTAL TO THEIR SUCCESS. THIS RESULT TO LOW INCOME OR LEAVE THE PROFESSION ALL TOGETHER.

BRAND’S NAME RECOGNITION, NATIONAL EXPOSURE, TRAINING, AND STATE-OF-THE-ART TECHNOLOGY, JUST TO NAME A FEW FACTORS, EXPLAINS WHY TOP PRODUCING AGENTS, VALUE THE BRAND AND PREFER TO BE AFFILIATED WITH NATIONALLY BRANDED BROKERAGE FIRM. IN ADDITION IN A 2017 SURVEY STADY SHOWS .A WELL-KNOWN BRAND BROKERAGE IS HIGHLY RELEVANT TO THEIR SUCCESS . THESE HIGH PRODUCING AGENTS CLOSE 85%-95% OF SALES.

- Vince Tersigni

Broker of Record

Royal LePage Elite Realty
http://www.rlpeliterealty.com/

January Home Projects

With the holidays over and midwinter setting in, the month of January provides an opportunity to refresh your home and make plans for the year ahead. Here are a few projects you can tackle in your home this month to set you up for healthy home habits in 2019:

Do a post holiday cleanup: if you haven’t already, pack up the holiday decorations, and give your home a thorough cleaning. Find homes for things acquired over the holiday season.

Organize: take some time to go through different rooms in your home one at a time. Get rid of any old or unused items by donating, selling, or passing down to others.

Create a space for indoor exercise: if being active was on your resolution list, carve out space in your bedroom or rec room for a yoga mat and some weights. This may help motivate you to be active when the weather is bad, or it’s just too cold to get outside!

Give your fridge a makeover: in the same vein as being active, go through your fridge and get rid of any tempting items you know you should resist. Stock your fridge with healthy snacks, fruits and veggies.

Get inspired: whatever your home improvement related goals may be, use downtime this month to do some research on paint colours and design. Make plans and a schedule in order for you to work on your home throughout the coming months.

Plan your garden: making plans and sketches for your spring and summer garden now may help you get motivated in a few months’ time.

Whatever your personal and home goals may be for 2019, January is the opportune time to get started. Don’t forget to take a cue from Mother Nature, and use some time to rest, relax and get cozy in your home as well. Happy New Year!

- Vince Tersigni

Broker of Record

Royal LePage Elite Realty
http://www.rlpeliterealty.com/

What to Consider Before You Buy

It’s no secret that buying a home is a huge investment- for many it will be the largest purchase they ever make. With this in mind, it is important to consider many different factors as you begin the search for your dream home. Here are just a few things you may want to keep in mind:

Think about long term plans. While you probably don’t have a crystal ball, consider the following questions: do you see yourself staying in your job for a long period of time? Do you want to stay in your current city long term? Will you have any children? Depending on your mortgage and the market at the time you purchase, you may not pay down any significant equity on your home for upwards of five years, and if you can’t see yourself living there for longer, it may not be the right house for you.Can you afford this house? Many house hunters are tempted when a home comes along that seems so very perfect, but is above their price range. It may seem easy to justify spending more than you can afford on a house you’ve fallen in love with, but this might have ramifications down the line if life circumstances change (and trust me, they can). Just because you have been approved for a certain mortgage, does not mean you should actually spend that much.

Look beyond the surface. Repainting a colour chosen by the previous owner is easy, but what about larger upgrades- appliances, HVAC, roofing and so on, that you may need to invest in shortly after you buy your home? Aside from base costs, don’t forget to factor in labour. It is important to factor in all of these potentially foreseen costs when you decide to make an offer on what could be your new home.

Finally, another element to keep in mind when you begin your house hunt is finding the perfect realtor to help you on your journey. Contact us today for more information on the home buying process, and to get started!

- Vince Tersigni

Broker of Record

Royal LePage Elite Realty
http://www.rlpeliterealty.com/

Meeting The Honorable Stephan Harper At OREA Conference Toronto!

The Honorable Stephan Harper was the 1st Canadian Prime Minister after the merger of the Progressive Conservative Party of Canada with Canadian Alliance of which he was the architect. The first elected prime minster of 2008 leading a minority government for a duration of 2 years. 2011 he was reelected with a majority until 2015.

In his book, Right Here, Right Now, Harper points out how leaders in business and politicians refuse to respond to matters of interest to citizens. Politicians/government officials are quite content with the status quo, refusing to concede the need for any change. While the left advocates radical changes are geared toward more socialism.

The book explains how social and public policy trends have affected our economies, communities and governments. The elections of USA President Donald Trump is not a fluke or surprise. He clearly responded to the citizens thirst for change, with a governing agenda. This clearly signals that political, economic and social institutions must be more responsive to the citizens’ concerns. Responding to market policies, globalization influx of the illegal immigrants and taking care of their own people.

This was a great read!

- Vince Tersigni

Broker of Record

Royal LePage Elite Realty
http://www.rlpeliterealty.com/

Long Distance Moving Tips

Moving within the same city is no light task, let alone moving to a new city or province. We’ve gathered some tips to help ease the process of long distance moving here:

Start with a plan: set out a budget on how much you want to spend on the move, and determine if you will be hiring movers to move all of your belongings, or if you will be transporting some of your things with a rented truck or your car. Will any friends or family be helping you? When budgeting time, don’t forget to factor in how long you will need to move things on your own.

Pare down: part of any move is culling your things, but if you are moving out of province, costs associated with the move itself can easily get out of hand. Figure out the essentials of what you want to keep, what you can replace once you get to your new home, and what you just don’t need any more. Selling furniture and other used items on Craigslist or Kijiji is a good way to help fund your post-move purchases.

Research your movers: choosing a reputable cross-country mover is important to reduce the risk of damage or loss, and to ease your peace of mind. Find the mover that is right for you by asking questions such as the ones on this Consumer Checklist for Choosing a Moving Company from the Government of Canada website.

Pack an emergency bag: moving across the country or province can sometimes bring with it delays, so packing an emergency back with any essentials you can’t go without is important, just in case your things take longer than expected to arrive at your new home.

Make sure you’re move-in ready: ensuring that you’ve transferred your utilities and home services like internet and cable will help the move-in go as smoothly as possible.

Moving can be a stressful time, but if you plan ahead and do your research, your stress will be lessened and your move will (hopefully!) go as smooth as possible. If you are looking to relocate to the Greater Toronto Area, give us a call today to start the search for your new home!

- Vince Tersigni

Broker of Record

Royal LePage Elite Realty
http://www.rlpeliterealty.com/

Mortgage Mistakes You Should Avoid

Financing is a crucial part of the home buying process. Often overwhelming and confusing to first time home buyers, it is no wonder that many take an “ignorance is bliss” approach. While it can seem scary, the reality is that the better you educate yourself, the more successful your home financing will be. Here are a few common- and costly- mortgage mistakes you should avoid:

Creating a budget and a plan is instrumental. As a home buyer, you should have a clear idea of your financial needs, and always think ahead. Even though rates may be low now, they will likely rise, and you don’t want to be stuck not being able to afford payments in the future.

Alongside this, do not necessarily choose a mortgage based on the lowest interest rate offered. Even though this approach is appealing on the outset, it may not be in your best interest down the line. You should also consider other factors like pre-payment options and penalties if you want to pay it off early.

When it comes time to renew your mortgage terms, do your research and see if a different lender has a better package available for you. Check out interest rates online, and speak to your bank to negotiate.

Above all, educate yourself and don’t be afraid to ask questions. A clear understanding of all that a mortgage entails will set you up for success!

- Vince Tersigni

Broker of Record

Royal LePage Elite Realty
http://www.rlpeliterealty.com/

What to Expect at Your Home Closing

Once you’ve gone through the majority of the home buying process, the last thing that will stand in your way is the closing. So, what is a closing, and what can you anticipate happening there?

The closing is where you will sign the documents related to the sale, and where you, as the buyer, will sign the paperwork to finalize the mortgage you are taking out. A closing is usually run by a closing agent, who is hired by the buyer or buyer’s mortgage lender.

Generally, all parties involved will be in attendance- this means the buyers, sellers, closing agent and real estate agents. If the home will be in more than one person’s name (for example, a husband and wife), both or all people should be there to sign. Some choose to invite personal attorneys, or other advisors as well.

A closing typically takes place at the closing agent’s office, the mortgage company, or at the office of one of the real estate agents involved in the sale. A closing may take between 30 minutes to an hour, where you will sign what may seem like a mountain of paperwork! A good closing agent will explain each document before you sign.

You should make sure to bring government-issued photo ID, and a cashier’s check or wire transfer to submit the down payment. Your real estate agent or the closing agent will be able to provide the exact dollar amount for the check in advance, but you should also remember to bring your regular checkbook just in case there are any unforeseen changes.

For more information on the home buying process, contact us today!

- Vince Tersigni

Broker of Record

Royal LePage Elite Realty
http://www.rlpeliterealty.com/

Tips for a Stress-free Renovation

Renovations of any size can be a big undertaking, and, understandably so, can lead to much stress. So often, a renovation will go over budget and over time, unforeseen delays will arise, and decisions on colours and finishes can sometimes seem impossible to make. Here are a few tips for making your home renovation as stress-free as possible:

Do your research: have a clear plan of what types of changes you are looking to achieve in your space, and what exactly is involved in the projects. You may want to consult with a designer, and perhaps even call in a home inspector in order to get a clear idea of any challenges that may be to come. If you are renovating in anticipation for a sale, be sure to talk to your real estate agent to ensure the changes you are going to make will benefit the sale of your home.

Work out your budget: calculate costs, and also factor in time. If you are going the DIY route, though you may save money, you will have to dedicate time and energy into your reno that you may not have to if you hire contractors and designers. You may want to consider hiring just for professionals for certain projects that require a bit more skill or specialization.

Don’t rush through the prep: while you may be excited to see the finished results of your hard work, the preparation that goes on before the finished product begins to take shape is incredibly important. You will thank yourself later!

Renovate with the future in mind: it’s easy to get caught up in trends when renovating, but don’t forget to think of the long haul. Will you- and your potential future home buyers- still like these finishes and design elements a few years down the line? When in doubt, think classic.

Don’t forget to also have a little fun while you are in the midst of your renovations. Reduce the mid-reno stress by taking time to relax with your family and make the most of your compromised space. With a little patience and hard work, your vision will soon be reality!

- Vince Tersigni

Broker of Record

Royal LePage Elite Realty
http://www.rlpeliterealty.com/

REAL ESTATE...Don’t Expect Home Price Plummeting in 2019!!

Canadian Real Estate Association (CREA) reports Home Sales in 2018 down by 11.1 %. CREA also predicts another 0.5% in 2019 year.

Here are a a few facts… New home construction has almost come to a halt. The existing inventory has been sold out, and fewer units are about to come on stream this year, 2019!

Municipalities, Regions, Provincial and Federal Governments continue with their thirst for tax money.

There is no sign to relax any regulations: Exiting Exuberant levies, Market’s Interference, Stress Test, Non Residents Tax, Land Transfer Tax, just to name a few...

This is putting pressure on the Re-sale Market, and as result fewer and fewer homes will be available for sale, and at worst, house prices shall remain stable with upward pressure of price increase in 2019.

Government intervention in free market with draconian politics has caused considerable damage in general, and specially to those first timer buyers where policies were designed to help and practically eliminating any hope to own a home any time soon.

40% Job Loss Within 15 Years, Are you Ready ?

Feb.14.19

Allow me to start of by saying I love people, all kinds of people. People inspire me, motivate me, teach me, and elevate me to new levels. This is why it troubles me to learn that venture capitalist Kai-Fu Lee, predicts that artificial intelligence and automation will erase 40% of the jobs people hold within the next 15 years, so do an acceleration of automated technology.

This means that not only are people with blue-collar jobs but those with white collar jobs are at risk of losing their positions to robots.

AIl can and will be replacing your doctors, lawyers, accountants, social workers and teachers to name a few. Do you find yourself chatting with your Uber driver, bartender, wait staff or store clerk? Enjoy it while it lasts because these are just a few of the jobs that will soon be outsourced or will disappear all together.

Most people just sit back and wait for government restructuring. They figure the solution will come from above, but it isn’t happening. Rather than preparing for this epidemic, the government is creating policies and allowing more people into our country. People are coming illegally and on mass. Illegal immigrants/refugees destabilize countries. We, citizens are left with a diminished standard of living. There will there be no jobs waiting, there will be no jobs to create.

With the absence of jobs, where will all of these people live? Who will house them? Who will pay for them to live, to eat, to educate themselves and their children?

Artificial intelligence will fill the job market and leave these people -and us - the responsibility of a government so in debt, it is astounding!

The “have not” countries must start to rebel and fight the totalitarian regimes in their own countries. History of nations teaches us that only its people can bring change. Rather than fleeing and making their problems, our problems... unify! Stand up! Demand change! This is the type of aid Canada should be providing to people from these nations.

Just running for a border isn’t the way to win a race!

Vince Tersigni

Broker of Record

Royal Lepage Elite Realty
http://www.rlpeliterealty.com/

The Perks of Downsizing for Empty Nesters

Feb.15.19

The Baby boomer generation is a big one, and in the last few years many of these Boomers are finding themselves with an empty nest, leading many to consider selling their family home and downsizing. Moving to a smaller home, might not be the answer anymore. You must take into consideration the market condition of present time. Price of a smaller home is not advantageous . Difference is minimal. This leaves not much disposable income. It’s a big dilemma. According to the National Post, a 2007 survey by the RBC showed that 33% of Canadian homeowners who are planning to purchase a new home in the next two years planned on downsizing-a big leap from just 19% of homeowners in 2002. This same survey in 2014 showed that 82% or respondents over 60 years old preferred a location-efficient home, one that is close to transit and amenities. Which typically means a smaller home closer to the city center.

Proximity to cultural amenities, sports facilities, restaurants and local shops might be one reason for Baby Boomers to consider downsizing once their kids have left the nest, but there are many other enticing perks that come with downsizing. Here are just a few:

Smaller house = smaller monthly expenses: By selling your home and downsizing to a smaller house or condo, your monthly expenses will also decrease. Utility bills, upkeep, insurance and taxes will shrink with your smaller abode. Not only that but chances are your mortgage will decrease as well. If you’ve lived in your family home for many years, you will have possibly built up a sizable home equity which, when cashed out, will positively affect your new mortgage payments.

Upkeep toned-down: A smaller home means a smaller, yard, and a condo, rental apartment, or townhome means maintenance is included in your monthly expenses. Keeping a garden is nice, but imagine a life with minimal to no shoveling, mowing and general outdoor upkeep…Smaller space, less stuff, a cleaner mind: It can be said that the more things we own, the more our things own us. One given that comes with downsizing is the necessity to cut down on your things. A smaller home could mean not only pared-down possessions, but also potential for a cleaner mind and attitude.Downsized home, upsized lifestyle: As the 2014 RBC survey suggests, many Boomers are choosing to downsize in order to live in a more desirable location. A condo or townhome located downtown means you’ll be closer to as many amenities as you could want or need, and hopefully your downsize means you’ll have an increased budget each month to enjoy them!

SELLERS – are you thinking of downsizing? What are some of your deciding factors?

Vince Tersigni

Broker of Record

Royal Lepage Elite Realty
http://www.rlpeliterealty.com/

Prediction Commercial Lease Properties Upper Swing in 2019 !!!!

It is very easy to get caught up in following and analyzing the exciting trends of the residential resale market but rather than invest all your time and money solely into residential property, why not invest in commercial?

Let’s discuss the commercial real estate market results for 2018 in terms of lease space. According to TREB’s MLS system in 2018, the commercial real estate market is thriving due to the increasing amounts of job creation in diverse sectors. In result, the employment rate remains relatively low. TREB’s specialists claim that because of the growth, firms continue to gain prospects and the amount of space being leased is increasing.

From 2017 to 2018, there was an 8% growth in leased industrial space, a 6 % growth in leased commercial and retail space and finally a 20 % growth in leased office space. It is clear that leasing of commercial buildings have increased yet in contrast the sale of commercial property has dipped. A large portion of commercial space comes from industrial markets and 73% of commercial space leased has been dominated by industrial use.

The average rate in which the industrial space has increased in leased property annually & consistently, is 7.7% each year. This rate of growth shows that the market in the GTA is strong and industries are continuously gravitating toward investing in the Greater Toronto Area. Other factors such as the Canadian dollar being inferior to that of the United States means for an attractive market for other countries buyers’ to invest in industrial firms in the GTA for sales of goods abroad.

The commercial/retail space has also experienced an increase, this suggests that the retail operations are continuing to see strong growth within the gta.

It is still too early in the year to report the results of the commercial leases for 2019 but it appears to be promising.

Sharing the Love: Baby Boomers and their Inheritances

A few weeks ago we looked at Baby Boomers downsizing to live a more affordable, scaled-down way of life. Another trend with this age group that has arisen in the last few years is the transfer of wealth from these Boomers to their children.

A common goal amongst many Baby Boomers is to provide better for their children than they had growing up, much like their parents before them. These success-driven Boomers are passing along inheritances, and one obvious choice of investment for their children is real estate. Though the “inheritance boom” that was once talked about may or may not be such a real thing, more and more Millenials are getting help from their parents, whether it be through a downpayment for their own condo, or funding from mom and dad for a rental property to help generate income, and reinforce responsibility and work ethic in their children.

According to this 2014 report by the Council of Economic Advisors, coming into adulthood in the great recession means that, on their own, fewer Millenials will be home owners than the young adults of generations past. Alongside this, Millenials have a closer family bond than past generation- it is no wonder their Boomer parents are choosing to share the spoils of their successful careers.

Click here to see an infographic on Gen-Y and their relationship with real estate, and for more about Millenial home buyers, see here.

This Weekend’s Grand Opening: Bolton’s Newest Community!

By Marycroft Homes

This Saturday, Sunday, and Monday from 12pm to 5pm you are invited to view the newest homes in much sought after Bolton West. There are 14 spectacular semi-detached homes available that have been built by Marycroft Homes in this great community. The show homes are all built and ready for you to see and touch. All homes have a number of upgrades already included for which other builder’s charge thousands of dollars… These are all included in your price! Upgrades like 9ft ceilings on the main floor, hardwood floors, granite/quartz countertops, modern gas linear fireplaces and so much more!

Not intended to solicit buyers or sellers, landlords or tenants currently under contract.The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.REALTOR® contact information provided to facilitate inquiries from consumers interested in Real Estate services. Please do not contact the website owner with unsolicited commercial offers.Royal LePage Elite Realty, Brokerage
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